Archives for January 2015

MarketWatch Infomercial: Can Millennials Finally Afford a Home?

Courtesy of Mish. The Outside the Box MarketWatch Opinion of Damian Maldonado is Millennials Can Finally Afford Homes with New Mortgage Rules. Let’s start with a look the new rules. New Rules The administration earlier this month cut the premium that borrowers with a Federal Housing Administration loan must pay for mortgage insurance to 0.85% […]

The Age of Intervention Continues

The Age of Intervention Continues By Dennis Miller One key perk to working alongside investing seers is the opportunity to ask them the big questions. Wondering what lies ahead, I asked Casey Research Chief Economist Bud Conrad and technical analyst Dominick Graziano to share their views on what investors should expect in 2015. These two […]

Here Are The 13 Banks That Rule The World

Courtesy of Lee Adler of the Wall Street Examiner A central tenet of my view of the markets is that there’s just one worldwide pool of liquidity, and it is ruled by the same Killer Whales operating out of a few world financial capitals. We call those whales (or sharks if you prefer) Primary Dealers. They feed in […]

Here’s a Picture of The Single Family Housing Recovery- Holy Cow!

Courtesy of Lee Adler of the Wall Street Examiner Here’s a brief comment from leading analyst on the new home sales news: "HOLY COW!" [But look at the chart.] Single Family Housing Recovery In case you’re wondering, the seasonally adjusted (SA) headline, larger than expected gain, was due to calendar factors and the bogus drill […]

Lies And Deception In Ukraine’s Energy Sector

Lies And Deception In Ukraine's Energy Sector  Courtesy of Robert Bensh for Oilprice.com  The Ukrainian government has repeatedly claimed it is doing its best to improve the oil and gas investment climate, but official statements are the opposite of the reality, as Prime Minister Arseniy Yatsenyuk is leading the great deception.  According to Prime Minister Yatseniuk, […]

Fed Statement Today: Between a Rock and a Hard Currency

Courtesy of Pam Martens. Jeffrey Gundlach, DoubleLine CEO, Tells CNBC’s Bob Pisani What He Thinks the Fed Is Really Up To With Its Interest Rate Talk The Federal Open Market Committee (FOMC) of the Federal Reserve will release its monetary policy statement at 2 p.m. today against a backdrop of extraordinary global events since its […]

What Would You Do?

What Would You Do? Courtesy of Paul Price Suppose you had the technical ability and raw materials to print up counterfeit dollars, euros or yen that were identical to the real things. Assume you could spend them as fast as you could create them with no fear of any repercussions. Would you prudently print up […]

Clash Over Sanctions: Syriza Opposes Sanctions on Russia, Calls Them “Neocolonial Bulimia”; Negotiation Rules

Courtesy of Mish. The Blowout Victory of Syriza has taken on some new meaning outside of Grexit possibilities. Please consider Greeks Rebuff EU Call for More Russia Sanctions. A spokesman for the ruling coalition of Alexis Tsipras, prime minister, said Greece had not approved a statement from EU heads of government that asked their foreign […]

Looks like we got ourselves a ballgame

Looks like we got ourselves a ballgame Courtesy of Joshua M Brown On October 15th, I officially declared the Relentless Bid era over (see There She Goes, My Beautiful World). It wasn’t a bold call, markets had been acting differently since at least last August. Selloffs were occurring with more frequency and less stocks were rising as […]

Greek Payback Math at 0% Interest

Courtesy of Mish. Payback of Greek Debt Greece has something like €315 billion of public debt. Forget about that. Instead focus on liabilities as presented in Revised Greek Default Scenario: Liabilities Shifted to German and French Taxpayers; Bluff of the Day Revisited. The above total is a “modest” €256 billion to be paid back over […]

Email From US Special Forces Veteran; 500 US Blackwater Mercenaries in Ukraine? US Backs Ukrainian Neo-Nazis

Courtesy of Mish. US Special Forces in Ukraine? In response to US Special Forces in Mariupol? I received an interesting email from “Dan” a 23-year Army veteran with four years in special services. Dan writes … I was a soldier in the US Army for 23 years including four years in Special forces Stationed in […]

A Fresh Look at Stock Market Sentiment

A Fresh Look at Stock Market Sentiment Courtesy of Brett Steenbarger, Ph.D., TraderFeed     I recently took a look at changes in the number of shares outstanding of the SPY ETF as a sentiment measure.  When traders are bullish, shares are created in the ETF; when they are bearish, shares are redeemed.  This is a […]

It’s Not The Greeks Who Failed, It’s The EU

Courtesy of The Automatic Earth Matson Aircraft refueling at Semakh, British Mandate Palestine 1931 In what universe is it a good thing to have over half of the young people in entire countries without work, without prospects, without a future? And then when they stand up and complain, threaten them with worse? How can that […]

Scientists figure out to unboil an egg

  View image | gettyimages.com Scientists unboil an egg, and it may be a big deal By Robert Ferris, at CNBC.com It may seem like a mere parlor trick, but it is an achievement that could "dramatically" cut costs for cancer treatments, food production and other research in the $160 billion global biotechnology industry, according to […]

Swiss Franc Yield Curve Negative for 12 Years; Bond Crash – Austrian Bank Raiffeisen; Another One Bites the Dust

Courtesy of Mish. The casualties continue to pile up in the wake of the Swiss National Bank dropping its peg to the euro. (See Rabbit Hole Intervention Fails: Wild Moves in Swiss Franc as Switzerland Abandons Euro Peg; Morals of the Story). The first moral of the story was “Don’t borrow money in other currencies, […]

This Is What It Means To Lose A Currency War

  View image | gettyimages.com This Is What It Means To Lose A Currency War Courtesy of John Rubino The term gets tossed around a lot, but the meaning and consequences of a “currency war” aren’t intuitively clear to most people. Especially confusing is the idea that you lose the war when your currency goes […]

How Capitalism Dies

Courtesy of Bill Bonner via Acting-Man Two Comedy Acts Today, we’re going to tell you why America’s middle class is getting poorer. Or put another way, we’re going to show you how capitalism dies. Two comedy acts appeared last week: President Obama’s State of the Union address and Mario Draghi’s QE announcement. Mr. Obama claimed credit […]

Beware The Correction Of False Prices

Beware The Correction Of False Prices  Courtesy of Charles Gave of Gavekal Dragonomics I want to start this paper by reiterating a few of my strongly held convictions about the role of central bankers: Economics is a branch of logic, itself a branch of philosophy, and not a branch of astrology (the good case) or mathematics […]

Evidence Grows Showing Wall Street as a Negative Economic Force

Courtesy of Pam Martens. Earlier this month, Jim Clifton, Chairman and CEO of Gallup, published a stunning indictment of Wall Street as a job creating engine. Clifton reported that the U.S. now ranks 12th among developed nations in business startups with countries such as Hungary and Italy having higher startup rates. Of equal concern writes […]

Preview of January FOMC Meeting and Beyond

Courtesy of Marc To Market The Federal Reserve’s two-day meeting concludes Wednesday.  To the extent the FOMC meeting is ever routine, this should be it.  Its forward guidance evolved at the end of last year.  The “considerable time” between the end of the asset purchase program, which it never called quantitative easing, and the first hike […]

Time to Focus on Europe?

Weighing the Week Ahead: Time to Focus on Europe? Courtesy of Jeff Miller, A Dash of Insight  There is plenty of economic data this week and earnings season is in full swing. Despite this, I suspect that news from Europe will dominate the market discussion. I expect market participants to be watching closely for The Message from […]

Self-Driving “Fully Automated” Vehicles on German Autobahn; Supply Chain Math; Uber and Khan Academy

Courtesy of Mish. Don’t worry taxi drivers, this is only a test: Self-driving cars to hit German Autobahn. A section of the A9 Autobahn in Bavaria will be converted into a test route for self-driving cars, Transport Minister Alexander Dobrindt said on Monday. “We will set up a test stretch on the A9 Autobahn” Dobrindt […]

Self-Driving “Fully Automated” Vehicles on German Autobahn; Supply Chain Math; Uber and Kahn Academy

Courtesy of Mish. Don't worry taxi drivers, this is only a test: Self-driving cars to hit German Autobahn. A section of the A9 Autobahn in Bavaria will be converted into a test route for self-driving cars, Transport Minister Alexander Dobrindt said on Monday. "We will set up a test stretch on the A9 Autobahn" Dobrindt […]

Why Priceline’s problems may soon be tech’s problems

The recent ascent of the US dollar and weakening of the Euro and Yen have far reaching consequences. For US companies that depend on foreign sales, the consequences can be harsh. Priceline's European assets get priced in US Dollars, making them worth less as the Euro falls. Further, the company's European customers have less money to […]